CALGARY, ALBERTA, Oct 3, 2011 (Marketwire via COMTEX News Network) --
Condor Petroleum Inc. ("Condor" or the "Corporation") (TSX:CPI) is pleased to announce that its Taskuduk West 4 (TasW-4) well has reached a total depth of 1329 meters. The TasW-4 well is located on the 2,610 sq. km Zharkamys West 1 contract territory (the "Zharkamys Territory"), situated in Kazakhstan's Pre-Caspian basin.
TasW-4 encountered 19 meters of net oil pay within two Triassic intervals. The lower interval, which contains 13 meters of net oil pay, has not been encountered in previous Taskuduk wells. This interval was identified using Condor's 3D seismic attribute and pre-stack analysis. Based on formation pressure data, the oil gravity is estimated to be 35 degrees API.
Production casing has been run and cemented at TasW-4 and the well is scheduled to be flow-tested once regulatory approvals are obtained. TasW-4 is the eighth well drilled in 2011 and represents the fifth successful oil well. The next prospect in the drilling queue is Uitas-6, another shallow Triassic structure.
About Condor Petroleum Inc.
Condor is a junior oil and natural gas corporation engaged in the exploration for, and the acquisition, development and production of oil and natural gas resources in Kazakhstan and Canada. Condor (through its wholly-owned subsidiary, Falcon Oil & Gas Ltd. LLP) holds a 100% interest in the oil and natural gas exploration rights to the Zharkamys Territory. For further information see Condor's (final) prospectus, dated March 31, 2011, a copy of which is available under Condor's SEDAR profile at www.sedar.com.